The Group inked two 15-year agreements, a memorandum of understanding and three head of terms concerning ports in Egypt’s Red Sea region and the Mediterranean, enabling a major expansion of AD Ports' activities into Egypt.
These agreements allow for expanded access to multipurpose terminals, cruise routes and logistics capabilities in Safaga, Ain Sokhna, Port Said, Hurghada, Sharm El Sheikh and Al Arish.
The agreements were signed in Cairo in the presence Egypt Transport Minister Lt. Gen. Kamel al-Wazir, UAE Ambassador to Egypt Mariam Al Kaabi, AD Ports Group MD/CEO Capt. Mohamed Juma Al Shamisi, Red Sea Port Authority Vice Chairman Maj. Gen. Osama Saleh, General Authority for the Suez Canal Economic Zone Chairman Walid Jamal Eldin, AD Ports Group Ports Cluster CEO Saif Al Mazroui and other senior officials.
Safaga concession agreement
The 30-year concession agreement allows the Group to develop and operate a multi-purpose terminal at Safaga Port over an approximately 810,000-square-meter area, set to become operational in second quarter 2025. It will have the capacity to handle 5m tons of dry bulk and general cargo, 1m tons of liquid bulk, 450K TEUs of containerized cargo and 50K CEUs of ro-ro.
AD Ports Group will invest a total of up to US$200m in superstructure and equipment, buildings and other real estate facilities and utilities’ network inside the concession area.
Other agreements concern the development of two cement terminals in Al Arish Port and West Port Said.
Port Said MOU
The MOU for the purpose of potential collaboration in various transportation and infrastructure projects, with an initial focus on the development of the East Port Said multi-purpose terminal, as well as a logistics zone and economic zone, was signed between AD Ports Group and the General Authority for the Suez Canal Economic Zone.
Sokhna, Hurghada and Sharm Al Sheik head of terms
The Sokhna head of terms concerns the development of three terminals, including ro-ro, cruise and multipurpose. The agreement was signed between AD Ports Group and the General Authority for the Suez Canal Economic Zone.
The head of terms for the management and operation of a cruise terminal located in Hurghada was signed between AD Ports Group and the Red Sea Ports Authority.
And the head of terms for the development, management and operation of a cruise terminal in Sharm El Sheikh also was signed between AD Ports Group and the Red Sea Ports Authority.
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